Our Advanced Micro Devices (AMD) and Taiwan Semiconductor Manufacturing (TSM) protective puts are on track to expire worthless. We will simply watch them do so.
AMD popped this week following the release of the company’s earnings report. Although revenue and EPS missed expectations by a hair, revenue rose 29% year over year.
Earlier this month, TSM reported better-than-expected revenue and earnings and raised its guidance for the current quarter.
These stocks remain deeply undervalued despite sector headwinds, and we will continue with our recovery positions.
AMD Jan 2023 (1/20/23) 70/Nov Monthly (11/18) 70 Call Spread
Current Stock Price: $60.94
Cost Basis: $99.04
Action: Watch 3 AMD Nov Week One (11/4) 54 Puts expire worthless
TSM Jan 2023 (1/20/23) 70/ Nov Monthly (11/18) 70 Call Spread
Current Stock Price: $61.54
Cost Basis: $98.03
Action: Watch 4 TSM Nov Week One (11/4) 55 Puts expire worthless